State Council, General Plan for the China (Shaanxi) Pilot Free Trade Zone

国务院中国 (陕西) 自由贸易试验区总体方案

January 02, 2017 | BY

Susan Mok

Shaanxi FTZ allows equity joint venture securities company.

Clp Reference: 2100/17.03.15 Promulgated: 2017-03-15

Promulgated: March 15 2017

Main contents: Cross-border bi-directional renminbi fund pool business by multinational enterprise groups will be launched. The participation in mutual recognition of mainland Chinese and Hong Kong fund products by fund products in the zone that satisfy mutual recognition conditions is supported. Banks in the zone may extend renminbi loans for offshore projects in accordance with relevant provisions.

The launch of renminbi cross-border reinsurance business is supported. Development of the commercial factoring business is supported (Item 7, Section Three).

The establishment of new branches or business offices in the zone by qualified foreign-funded banks is supported. Foreign investors will be permitted to invest in the establishment of one new equity joint venture securities company in the zone.

Qualified lease financing business in the zone is permitted to charge rent in foreign currencies.

Foreign-invested equity investment management institutions and foreign-invested venture capital management institutions are permitted to promote in the zone funds that manage renminbi equity investments and venture capital investments (Item 8, Section Three).

The zone proposes the carrying out of cultural relics protection and archaeological research work with countries along “the Belt and Road”, and the carrying out of international exchanges and cooperation between museums; and relying on existing dealing premises, engagement in the cultural and art work dealing business to the extent permitted by state policies and regulations; and provision of special policy support to private enterprises and Sino-foreign equity joint ventures engaging in publication business directed exclusively to foreign language markets abroad (Item 15, Section Three).

Qualified Sino-foreign equity joint travel agencies registered in the zone will be permitted to engage in outbound travel business, with the exception of travel to Taiwan (Item 16, Section Three).

Related legislation: General Plan for the China (Liaoning) Pilot Free Trade Zone, General Plan for the China (Zhejiang) Pilot Free Trade Zone, General Plan for the China (Henan) Pilot Free Trade Zone, General Plan for the China (Hubei) Pilot Free Trade Zone, General Plan for the China (Chongqing) Pilot Free Trade Zone and General Plan for the China (Sichuan) Pilot Free Trade Zone

clp reference:2100/17.03.15(7) promulgated:2017-03-15

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